AutoZone : Exclusive - Trump to meet with retail CEOs on taxes, infrastructure
February 14, 2017 at 03:10 pm EST
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WASHINGTON (Reuters) - President Donald Trump will meet on Wednesday with the chief executive officers of eight large retailers, including Target Corp (>> Target Corporation), Best Buy Co Inc (>> Best Buy Co Inc) and J.C. Penney Company Inc (>> J C Penney Company Inc), to discuss tax reform and infrastructure improvements, according to people with knowledge of the meeting.
WASHINGTON (Reuters) - President Donald Trump will meet on Wednesday with the chief executive officers of eight large retailers, including Target Corp (>> Target Corporation), Best Buy Co Inc (>> Best Buy Co Inc) and J.C. Penney Company Inc (>> J C Penney Company Inc), to discuss tax reform and infrastructure improvements, according to people with knowledge of the meeting.
A White House official confirmed the meeting between retail CEOs and Trump will take place on Wednesday morning.
The meeting will include Target CEO Brian Cornell, Best Buy CEO Hubert Joly, Gap Inc (>> Gap Inc) CEO Art Peck, Autozone Inc (>> AutoZone, Inc.) CEO William Rhodes, Walgreens Boots Alliance Inc (>> Walgreens Boots Alliance Inc) CEO Stefano Pessina, J.C. Penney CEO Marvin Ellison, Jo-Ann Stores LLC [NEDLEJ.UL] CEO Jill Soltau and Tractor Supply Co (>> Tractor Supply Company) CEO Gregory Sandfort, according to those familiar with attendees.
The retailers oppose the border adjustment tax, a Republican proposal that would cut corporate income tax to 20 percent from 35 percent, exclude export revenue from taxable income and impose a 20 percent tax on imports.
(Reporting by Ginger Gibson; Additional reporting by Steve Holland; Editing by Lisa Shumaker)
AutoZone, Inc. specializes in distributing automotive spare parts and accessories. The group offers compressors, batteries, carburetors, clutches, des rotors, des motors, fuel pumps, etc. Net sales break down by activity as follows:
- retail and professional distribution (98.2%): sale of spare parts primarily to garages and service stations;
- other (1.8%): sales of diagnostic and maintenance software (name Alldata), and an e-commerce division.
At the end of August 2023, AutoZone, Inc. had a network of 7,140 stores located in the United States and Puerto Rico (6,300), Mexico (740) and Brazil (100).